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20121202
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hit by threatening to cut jobs and working hours as a way to deal with the new healthcare law. darden restaurant group, owner of the olive garden and red lobster, just cut its profit forecast for the year, specifically citing failed promotions and the pr problem it encountered after admitting to limiting employee hours. under the affordable care act, companies with more than 50-full time employees are required to offer basic health coverage for workers or face a fine. other restaurant chains have also generated backlash after publicly complaining about obamacare. "i think the point is that the restaurant industry shouldn't expect to be able to have this advantageous position relative to many other industries that employ a lot of people and do pay healthcare benefits. and, quite frankly, it is the law, so we'll all have to deal with it and manage through it. that was restaurant consultant bob goldin of technomic. darden shares were down 10% yesterday. the founder of software company autonomy is on the defense. this week, autonomy founder mike lynch launched a website addressing allegat
as a way around paying for employees' healthcare. the parent company of olive garden and red lobster claimed paying for basic healthcare coverage for all full-time employees, as mandated by obamacare, would be devastating. as a result, it had planned to bump some full- time employees down to part- time. after what it calls "negative media coverage," darden has reversed course and says it will not do so. it's not just santa working around the clock in the days before christmas. now, so are macy's employees. the nation's largest department store chain has announced that most of its stores will remain open for 48 hours straight the weekend before christmas. a note to procrastinators: after closing at midnight on december 23rd, some stores will be open on christmas eve until 6pm. the hardcore push by retailers to get holiday shoppers in the door won't be going away anytime soon. the latest data shows thanksiving was a bigger shopping day than black friday. according to a new reuters poll, 30% of respondents said they shopped on thanksgiving, compared to 29% who said they shopped on black
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